Southeast Asia Surface Treatment Chemicals Market Size (2024 - 2029)

The Southeast Asia surface treatment chemicals market is poised for growth, driven by the recovery of the industrial sector post-pandemic and increasing demand from the automotive and transportation industries. Despite challenges posed by strict regulations on volatile organic compounds, the market is expected to expand, with opportunities arising from the growing awareness of surface treatment benefits in sectors like food and beverage. Indonesia is anticipated to lead the market due to its rapid industrialization and numerous industrial expansion projects.

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Market Size of Southeast Asia Surface Treatment Chemicals Industry

Southeast Asia Surface Treatment Chemicals Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Low

Major Players

Southeast Asia Surface Treatment Chemicals Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Surface Treatment Chemicals Market Analysis

The Southeast Asia surface treatment chemicals market is expected to register a CAGR of over 6% during the forecast period.

The COVID-19 pandemic outbreak resulted in substantial production losses for the industrial sector owing to prolonged lockdowns, lack of labor, and strict social distancing norms. Many plant expansion projects were put on hold during this period, leading to hindrances in the market demand for surface treatment chemicals. However, with the industrial sector making a steady recovery post-pandemic, order for the surface treatment chemicals market is anticipated to grow during the forecast period.

  • Rapid industrialization and growing demand from the automotive and transportation industry are anticipated to serve as the growth engines for the surface treatment market in the region.
  • On the flip side, strict regulations governing emissions of volatile organic compounds (VOCs) associated with surface treatment applications could hinder market growth.
  • However, the rising awareness about the benefits of surface treatment application in various industries, such as the food & beverage industry, is anticipated to provide future opportunities to the studied market.
  • Indonesia is expected to dominate the Southeast Asia surface treatment chemicals market during the forecast period, owing to rapid industrialization and various industrial expansion projects undertaken in the country.

Southeast Asia Surface Treatment Chemicals Industry Segmentation

Surface treatment is an additional process applied to the surface of any material using different chemicals to improve the overall resistance to corrosion and general wear and tear. It also helps improve other material characteristics, such as texture, appearance, and other aspects. The Southeast Asia surface treatment chemicals market is segmented by chemical type, base material, end-user industry, and geography. By chemical type, the market is segmented into plating chemicals, cleaners, conversion coatings, and other chemical types. By base material, the market is segmented into metals, plastics, and other base materials. By end-user industry, the market is segmented into automotive & transportation, construction, electronics, industrial machinery, and other end-user industries. The report covers market sizes and forecasts for five major regional countries. For each segment, market sizing and forecasts have been done based on value (USD million).

Chemical Type
Plating Chemicals
Cleaners
Conversion Coatings
Other Chemical Types
Base Material
Metals
Plastics
Other Base Materials
End-user Industry
Automotive & Transportation
Construction
Electronics
Industrial Machinery
Other End-user Industries
Geography
Singapore
Indonesia
Thailand
Philippines
Malaysia
Rest of Southeast Asia
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Southeast Asia Surface Treatment Chemicals Market Size Summary

The Southeast Asia surface treatment chemicals market is poised for significant growth, driven by rapid industrialization and increasing demand from the automotive and transportation sectors. The market experienced setbacks during the COVID-19 pandemic due to production losses and project delays, but is now on a recovery trajectory. The automotive industry, in particular, is a key contributor to this growth, with rising vehicle sales and production, including a notable shift towards electric vehicles. This transition is expected to further boost the demand for surface treatment chemicals, which are essential for enhancing the durability and anti-corrosive properties of automotive components. Indonesia is anticipated to lead the market, supported by its industrial expansion and robust automotive sector.

In addition to the automotive industry, the food and beverage sector is also contributing to the demand for surface treatment chemicals, with significant investments and expansions underway in the region. The market is characterized by its fragmented nature, with major players like Nippon Paint Holdings, Henkel AG, and PPG Industries actively participating. Strategic partnerships and expansions, such as CemeCon's establishment of a subsidiary in India to serve the ASEAN market, highlight the competitive landscape. Despite challenges posed by stringent regulations on volatile organic compounds, the market is expected to benefit from the growing awareness of the advantages of surface treatment applications across various industries.

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Southeast Asia Surface Treatment Chemicals Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rapid Industrialization Across the Region

      2. 1.1.2 Growing Demand from Automotive & Transportation Industry

    2. 1.2 Restraints

      1. 1.2.1 Stringent Regulations on VOCs Released from the Application of Surface Treatment Chemicals

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Chemical Type

      1. 2.1.1 Plating Chemicals

      2. 2.1.2 Cleaners

      3. 2.1.3 Conversion Coatings

      4. 2.1.4 Other Chemical Types

    2. 2.2 Base Material

      1. 2.2.1 Metals

      2. 2.2.2 Plastics

      3. 2.2.3 Other Base Materials

    3. 2.3 End-user Industry

      1. 2.3.1 Automotive & Transportation

      2. 2.3.2 Construction

      3. 2.3.3 Electronics

      4. 2.3.4 Industrial Machinery

      5. 2.3.5 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Singapore

      2. 2.4.2 Indonesia

      3. 2.4.3 Thailand

      4. 2.4.4 Philippines

      5. 2.4.5 Malaysia

      6. 2.4.6 Rest of Southeast Asia

Southeast Asia Surface Treatment Chemicals Market Size FAQs

The Southeast Asia Surface Treatment Chemicals Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION and The Sherwin-Williams Company are the major companies operating in the Southeast Asia Surface Treatment Chemicals Market.

Southeast Asia Surface Treatment Chemicals Report Snapshots

Southeast Asia Surface Treatment Chemicals Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)